Volkswagen Group subsidiary, Konnect says the Israeli government is actively supporting start-ups in the country as the Middle East State’s boom in high-tech innovation shows no sign of slowing.
Israel is currently home to an extraordinary 6,000 start-up companies, who tap into the country’s can do attitude in the face of historical and current challenges which show no sign of abating at present.
Go deeper with GlobalData
“Generally speaking, the Israeli government believes in encouraging the high-tech sector,” Konnect head of strategy and business development, Hemdat Sagi told just-auto on the sidelines at this year’s Central & Eastern European Automotive Forum organised by Adam Smith Conferences in Budapest.
“This you can see with government subsidies to multi-national companies to establish R&D factories and offer participation in salaries. With us [as] an innovation hub, we do not take anything from the government, but we are in touch with them.
“The Israeli government a few years ago believed it should focus on technological companies in order not to be dependent on oil. It started supporting eco-systems start-ups, [an initiative] which came from the Prime Minister. We are in contact with the government because we need them [for] data – the government is very much leading.”
Volkswagen opened the Konnect Campus in Tel Aviv to tap into the small country’s vast start-up potential, which allows local partners to engage directly with the German parent company and its brands. In addition, Wolfsburg can observe developments in connectivity, autonomous driving, smart navigation, cyber security, e-mobility and big data at close quarters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The mindset of Europeans and Israelis is complementary,” added Sagi.
“For example, Hungary and Israel could really collaborate on complementary technologies and solutions.
“Israel has become a powerhouse for smart mobility start-ups. Israelis maybe have chutzpah – it is a mix of cultures – a lot of immigrants coming to a small place.
“We are eight million citizens and surrounded by not too many trade partners forced Israel to think internationally from day one.”
